Compliance: self-employed, contractors and freelancers

Many workers choose to go self-employed or freelance, be that for their choice of hours or the pay.

If this choice is to gain more freedom, then the number of self-employed responsibilities that take up your time could be getting you down. Perhaps the paperwork, or even missing some crucial deadlines?

At Thompson Wright, our team will help you to stay on top of your obligations to ensure that you enjoy and live your passion without compliance-related worries weighing you down.

Additionally, we can introduce you to new devices that can help to make your role more effective and efficient.

Our accounting software, for example, can automatically generate invoices, and our financial forecasting technology allows you to keep an eye on your cash flow.

IR35

One focal challenge for contractors is the implementation of off-payroll working (IR35), which are rules that can apply to a worker if they provide their services through their own limited company or another type of intermediary to the client.

However, IR35 contributes to your compliance-related obligations and can reduce your take-home pay too.

Our team can support workers with this to ensure they do not pay any more tax than is needed, claim back remaining relief plus plan for next year’s return.

We pride ourselves in being a part of your team and we can also help you with digital accounting, corporate finance, HM Revenue and Customs (HMRC) investigations, self-assessments and tax planning.

To find out how Thompson Wright can ensure you stay compliant with all of your obligations, contact a member of our expert team today.

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Posted in Blog.